Posted on 05 Jan 2010
Steel companies SAIL, Tata Steel, Essar, Bhushan and JSW have hiked prices of their products by up to Rs 2,000 a tonne on rise in demand in the domestic market, reports say. The country’s largest steel producer SAIL increased the prices of flat and long products by Rs 1,500 while Tata Steel hiked the rates of flat products by up to Rs 1,500.
Bhushan Steel hiked the prices of its long and flat products by up to Rs 2,000 a tonne. Essar Steel said they have raised flat products prices by up to 4% from the current range between Rs 28,000 and Rs 30,000 a tonne. JSW has increased the prices of its long and flat products by up to 5%.
Flat steel products are primarily used by the white goods and auto industry while long products are used in the construction industry. SAIL said the prices of its products have been increased with immediate effect. Globally steel prices have recovered by about $50 a tonne to about $450 per tonne.
